The group have suggested a "two-out-one-in" policy, and are also calling for an appointing body to justify new appointments, which would be allocated to parties according to their vote share in the previous general election, as well as committing to greater diversity.

Chairman of PACAC, Sir Bernard Jenkin, said: "The House of Lords is of vital importance to the UK's political system, carrying out important scrutiny and revising functions, but it is a problem that the size of the Chamber continues to grow exponentially.

"This is an urgent window of opportunity and the government and other party leaders must seize this moment of consensus to ensure the number of peers is reduced to 600 over the years ahead."